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Total $2,442 2,508 10 Units Unit Date Transaction In Cost May 1 Balance 130 $4
Total $2,442 2,508 10 Units Unit Date Transaction In Cost May 1 Balance 130 $4.40 6 Purchase 850 4.40 7 Sale Sale 12 Purchase 430 4.80 15 Sale 18 Purchase 330 4.80 22 Sale 25 Purchase 520 4.60 30 Sale Totals 2,260 Units Unit Total Sold Price $572 3,740 330 $7.40 330 7.60 2,064 250 7.80 1,584 430 7.80 2,392 250 7.40 $10,352 1,590 1,950 3,354 1,850 $12,104
Expert Solution
| MOVING AVERAGE METHOD | ||||||||||
| PURHASES | COST OF GOODS SOLD | ENDING INVENTORY | ||||||||
| Date | Particulars | Units | Rate | Total | Units | Rate | Total | Units | Rate | Total |
| May, 01 | Beginning inventory | 130 | $ 4.40 | $572 | ||||||
| May, 06 | Purhcases | 850 | $ 4.40 | $3,740 | 980 | $ 4.40 | $4,312 | |||
| May, 07 | Sales | 330 | $ 4.40 | $1,452 | 650 | $ 4.40 | $2,860 | |||
| May, 10 | Sales | 330 | $ 4.40 | $1,452 | 320 | $ 4.40 | $1,408 | |||
| May,12 | Purchases | 430 | $ 4.80 | $2,064 | 750 | $ 4.63 | $3,472 | |||
| May, 15 | Sales | 250 | $ 4.63 | $1,157 | 500 | $ 4.63 | $2,315 | |||
| May,18 | Purchases | 330 | $ 4.80 | $1,584 | 830 | $ 4.70 | $3,899 | |||
| May, 22 | Sales | 430 | $ 4.70 | $2,020 | 400 | $ 4.70 | $1,879 | |||
| May, 25 | Purchases | 520 | $ 4.60 | $2,392 | 920 | $ 4.64 | $4,271 | |||
| May, 30 | Sales | 250 | $ 4.64 | $1,161 | 670 | $ 4.64 | $3,110 | |||
| 2,130 | $9,780 | 1,590 | $7,242 | 670 | $3,110 | |||||
| ANSWER = Ending inventory = | $3,110 |
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